404
+1-313-307-4176
sales@stratviewresearch.com
Capacitor Bank Market Report
Capacitor Bank Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026
Capacitor Bank Market is likely to witness a substantial growth at a CAGR of more than 5% during the forecast period. This is largely because of the soaring demand for electricity along with the increased focus of the regulatory board and authorities in order to reduce the line losses. This equipment also helps in increasing the overall power factor. In addition, the capacitor banks are in a very high demand as they help in improving the functioning and efficiency of the supply systems as well as provide voltage stability during extreme loads.
|
Capacitor Bank Market – Snapshot |
|
|---|---|
|
Growth |
>5% for the next five years |
|
Major Type |
Open Air Substation |
|
Dominant Application |
Power Factor Correction |
|
Region with the highest demand |
Asia Pacific |
|
Key Players |
Aener Energía, Alpes Technologies, American Superconductor, ARTECHE, circutor.com, Eaton, GE, Hitachi ABB, Schneider Electric, and Siemens. |
Wish to get a free sample? Register Here
Based on the voltage type, the market is segmented into low [<10 kV], medium [10 kV - 69 kV], and high [>69 kV]. Among these voltages, the medium voltage segment is estimated to account for a high share of the market during the forecast period. This is mainly due to the growing demand for power factor conversion technologies across industrial, commercial, and renewable systems with medium voltage characteristics. These units can be installed across both outdoor and indoor substations for power factor correction, power loss reduction, and voltage support. These capacitor banks can effectually reduce the power factor penalties, which fuel their market demand. Therefore, there is a significantly high demand for medium voltage capacitor banks currently.
Based on the type, the market is segmented into open air substation, metal enclosed substation, pole mounted, and others. Among these types, the open-air substation is expected to gain the maximum traction in the market, over the forecast period. They are the most commonly used systems, which are deployed across the utility and industrial facilities in order to reduce power losses and improve power quality. Also, there is an increasing demand for open air substations primarily from the renewable sector, which will help boost their market growth in the forthcoming years.
Based on the application type, the market is segmented into power factor correction, harmonic filter, voltage regulation, renewable integration, industrial application, data centers, and others. Among these applications, the power factor correction segment is expected to gain the maximum traction in the market over the forecast period. This is because most of the capacitor banks are deployed across the utilities, so as to enhance or correct the power factor. Moreover, the installation of power factor correction system offers several benefits such as improved grid voltage, increased system capability, lower power losses, and reduced utility bills.
In terms of regions, the market is segmented into North America, Europe, Asia Pacific, and Rest of the world. Among these regions, Asia-Pacific is expected to be dominant throughout the forecast period. The market growth in this region is majorly attributed to the increasing investments towards the electrification of the utility networks and industrial developments. Also, the emerging economies in the region such as China, Indonesia, and India will drive the regional market growth as a result of the increasing investments and upgrade of electrical infrastructure and power capacities.
Know which region offers best growth opportunities. Register Here
Capacitor bank is defined as the combination of several capacitors of similar rating which are fused in series or parallel with one another so as to collect electrical energy. This equipment is primarily used to correct a power factor gap or a phase shift in an AC power supply.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
|
Capacitor Bank Market Research Report - Features |
|
|---|---|
|
Market Segmentation |
4 |
|
Regions Covered |
4 |
|
Countries/Sub-Regions Covered |
17 |
|
No. of Figures & Tables |
>180 |
|
Company Profiles |
10 |
The capacitor bank market is segmented into the following categories.
Want to know the most attractive market segments? Register Here
Some of the key players in the capacitor bank market are-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
The capacitor bank market is expected to witness an impressive CAGR of more than 5% in the foreseeable future.
Aener Energía, Alpes Technologies, American Superconductor, ARTECHE, circutor.com, Eaton, GE, Hitachi ABB, Schneider Electric, and Siemens are among the key players in the capacitor bank market.
Asia-pacific is expected to remain dominant in the capacitor bank market during the forecast period.
The power factor correction segment is expected to gain the maximum traction in the capacitor bank market over the forecast period.
The medium voltage segment is expected to account for a high share in the capacitor bank market over the next five years.
WE ACCEPT
